Sweetgreen, which operates a chain of fast casual salad restaurants, raised $364 million by offering 13 million shares at $28, above the range of $23 to $25. The company offered 0.5 million more shares than anticipated.
Sweetgreen states that it is one of the fastest-growing restaurant companies in the US by revenue. As of September 26, 2021, the company owned and operated 140 restaurants in 13 states and Washington, DC, and it grew its restaurant presence at a 27% CAGR from 2014 to 2020.
Sweetgreen plans to list on the NYSE under the symbol SG. Goldman Sachs, J.P. Morgan, Allen & Company, Morgan Stanley, Citi, Cowen, Oppenheimer & Co., RBC Capital Markets, and William Blair acted as joint bookrunners on the deal.
